Question NW2727 to the Minister of Trade, Industry and Competition
21 September 2023 - NW2727
Bergman, Mr D to ask the Minister of Trade, Industry and Competition
Whether he will relook the Exempted Micro Enterprise (EME) thresholds, considering that the Rand/Euro exchange has nearly doubled since the criteria were first launched and that could have bearing on companies considered as Micro enterprises being able to qualify for an EME affidavit; if not, what is the position in this regard; if so, what are the relevant details?
Reply:
The existing EME threshold of R10 million annual revenue was set to exempt small businesses from mandatory compliance with B-BBEE.
While the exchange rate itself may not be sufficient grounds for a review, there may be other information that justifies a review. I am accordingly requesting the Department to consider the matter and advise me by the end of November 2023 whether there are grounds for a review.
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